Financial Video Games: A Financial Literacy Tool for Social Workers

Richards, Kristin V.; Williams, Jaclyn M.; Smith, Thomas E.; Thyer, Bruce A.

doi:10.5296/ijsw.v2i1.7130

Cited by 5 publications

(3 citation statements)

References 33 publications

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“…By the end of therapy, she sought out advice from a financial advisor. She also started reading blogs on how individuals maintained a budget with limited income and engaged with other web-based financial services (Richards, Williams, Smith, & Thyer, 2015). Two, Kathy believed she could keep track of her emotions, which would enable her to stick to a budget.…”

Section: Financial Therapy Sessionsmentioning

confidence: 99%

Financial Therapy with Families

Smith

Richards

Panisch

et al. 2017

Families in Society: The Journal of Contemporary Social Service

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A manualized form of financial therapy for families is proposed to decrease tensions caused by conflict arising on family members' understanding of money. When used with families, financial therapy goes beyond financial education by addressing individual behaviors and attitudes toward personal finance within the dynamics of a family system. To address a therapist's lack of formal training in family systems and/or financial therapy, a manualized form of financial therapy is introduced. A case example is presented to illustrate the benefits of this approach. This article demonstrates that therapists can use a manualized format of financial therapy for families to promote positive changes in a family's dynamics and behaviors in regards to finances.

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Section: Financial Therapy Sessionsmentioning

confidence: 99%

Financial Therapy with Families

Smith

Richards

Panisch

et al. 2017

Families in Society: The Journal of Contemporary Social Service

Self Cite

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“…Escape from the Castle is a digital escape game created with the collaboration of the Museum of Saving in Turin (Italy), Neuroscience Lab Intesa Sanpaolo Innovation Center, and the GAME Science Research Center of IMT School for Advanced Studies Lucca. The possibility to promote financial literacy using games has been extensively investigated (Paeßens & Winther 2021), also highlighting numerous attempts applying games (Richards et al 2015) that try to bridge the financial literacy gap by using games and video games in teenagers and youngsters (Rasco et al 2020).…”

Section: Introductionmentioning

confidence: 99%

Digital Escape Games in Educational Programs for Financial Literacy

Bisanti

Paolo

Pizziol

et al. 2022

ECGBL

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Escape from the Castle is a digital escape game created with the collaboration of the Museum of Saving in Turin (Italy), Neuroscience Lab Intesa Sanpaolo Innovation Center, and the GAME Science Research Center of IMT School for Advanced Studies Lucca. In the escape game, players must help Mica, the mascot of the Museum, to run away from the Ghost of the Baroness, from its Castle. To do that, every player has to solve four puzzles in four different rooms. Each room is correlated to a financial issue, such as saving strategies and planning. The game aims to increase the awareness that money represents a means for achieving a purpose (i.e., use value of money) and not an end, from a behavioural and neuroscientific point of view. So we built a study about the behaviour of teenagers. According to the literature, the cooperative approach proposes emotional and cognitive involvement as a tool to strengthen learning, increases awareness of self-efficacy and, when applied to money management, increases the self-perception of being able to make consumption choices. To better understand the mechanisms of cooperation, we built an experiment with 118 students from eleven to fourteen years old, that played the game during a visit to the Museum. We divided students into two groups: one in which students could collaborate with each other in solving the puzzles (treatment) and one in which they had to play individually (control), and we collected score and time of play (behavioural data). In each group, two students wore eye-trackers to record pupil dilation to collect neurophysiological data. Here we present mainly the behavioural results that show that the students who were allowed to collaborate obtained, on average, double the score compared to those who played individually. Furthermore, those who collaborated finished the game in less time than those who have not played as a group. Moreover, combining behavioural data with neurophysiological data, there are indications that high pupil dilation is correlated with high engagement in play, and this is often true in collaborating groups.

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“…This study adds to the existing research by exploring some of the main educational impacts of cooperation and competition as mechanisms for social engagement and their added value to the transformational play-based educational video game experience. It also adds to the research that suggests that educational video games may be an effective method for teaching financial literacy content (Liu et al., 2011; Richards et al., 2015).…”

Section: Introductionmentioning

confidence: 99%

Learning through video games: The impacts of competition and cooperation

Erickson

Sammons-Lohse

2020

E-Learning and Digital Media

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The purpose of this study was to explore four different methods of instruction: a traditional slideshow control group, and three groups using an educational video game played either individually or facilitated with a competitive or cooperative social structure. The instructional tool was an educational video game designed to teach a personal finance lesson on credit scores through individual play. The research questions focused on differences in participant performance, engagement, and attitude. The participants in the study consisted of adults from traditional extension and outreach audiences associated with a land-grant university located in the intermountain western United States. The results of this study indicated that, with one exception, there were no significant differences in outcomes between the four different methods of instruction. The broad interpretations of this study are that educational outcomes of using educational video games may not vary greatly based on social context when using precise definitions of competition and cooperation. Importantly, this affords educators the general freedom to choose among a number of social educational structures without fear of significantly compromising educational outcomes.

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Financial Video Games: A Financial Literacy Tool for Social Workers

Cited by 5 publications

References 33 publications

Financial Therapy with Families

Financial Therapy with Families

Digital Escape Games in Educational Programs for Financial Literacy

Learning through video games: The impacts of competition and cooperation

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